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U.S. Manufacturing Gauge Expands at Fastest Pace Since 2018

  • ISM’s new orders index matches highest since early 2004
  • Measures of employment, output and prices all increase
Updated on

A measure of U.S. manufacturing expanded in December at the fastest pace in more than two years, bolstered by a pickup in new orders and the strongest growth in production since 2011.

A gauge of factory activity unexpectedly increased to 60.7 from 57.5 a month earlier, according to Institute for Supply Management data released Tuesday. Readings above 50 indicate expansion and the figure exceeded all estimates in a Bloomberg survey of economists.